Semiconductors have no top

[fstp, logo, header] February 9, 2024 [ag views, logo, header] Semiconductors have no top I have seen this before and it feels like we are right in the middle of it. Stocks trade on what can happen tomorrow, not necessarily what is happening today. Apparently the demand for semiconductor chips in AI is so big that investors will pay just about anything to hop on board. As a reminder, the 1990’s were in a roaring bull market for years and in 1999 the Invesco QQQ Trust (Ticker: QQQ) doubled in value, from the top. It was glorious. In the Trading Desk we had a little lesson to “lean on yourself” setting up trades. With the right tail side, as in the straight up market rallying side, moving in one line, options are sneaky cheap. [fstp] I set up a funky long strangle in the Trading Desk in the Market Vectors Semiconductor Index (Ticker: SMH) today and am happy I bought the calls. Nvidia Inc (Ticker: NVDA) earnings are not for another 2 weeks so today’s high is likely tomorrow's low. - AG  [logo, pit profits] - Easy Button - SVIX Feb16 37/41 strangle closed for 25% gain - Easy Button - XOM Mar01 100/104 strangle closes for a 10% gain Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [fpip] $5000, Now Where? Hi Shoppers, What is this marketing doing? It hasn’t been this slow since … I can’t remember. All day Thursday we had a thirteen point range in the S&P 500 Index (Ticker: SPX). We did eclipse $5000 for a hot second, a psychological number if ever there is (was?) one. Is SPX pausing before that next leg higher? That is quite possible. I do have resistance here in the SPX:  [fpip]( Pull up the weekly chart and you can see we have been up 14 of the last 15 weeks. Not sure if it’s true but I read somewhere that this is the longest streak since 1971-1972. Does that make it more bullish or unsustainable? [Continue here for a peek at Bitcoin and how to play it.]( - Licia   [glossary, logo] There are plenty of terms in the trading world that need explaining. The Option Pit Glossary is here to help. Today's phrase is:  Wheel Trade - An option trade meant to capture the dividend in a stock. The routine goes: sell a put, take delivery of shares and then sell a call at the money to call away the stock at least 1 day past ex-dividend.  [ftsp] All the Right Options. The Option Pit Team brings more than 150 years of experience to you every day. From the trading pits of Chicago to the world's largest banks to the halls of power in DC -- they've done it all. Now they’re collectively focused on one thing: making YOU a better, more profitable trader. Click the button below to schedule a call with our concierge Customer Care Team to find your best fit today. DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute the solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Want to change how you receive these emails? You can [Update your preferences]( This email was sent by support@optionpit.com. 1-888-872-3301 [Option Pit]( | 190 S LaSalle Suite 3000 Chicago, IL 60603 | [Privacy Policy](